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Jumat, 18 Juli 2014

CVS Buys 33 Store Drug Chain in Florida - Navarro Discount Pharmacy And Begins Signing Contracts With Major Healthcare Concerns In Other Parts of the Country

Navarro is a Hispanic owned drug chain that has been in business for many years in the Miami-Dade area of Florida. The names of the stores will not change due to branding and loyalty from mostly Hispanic customers. Interesting that the chain also offers compounding services and a club for people with diabetes. CVS in other recent news has been having some other issues.

It’s like a race with Walgreens as CVS is also working to buy a very large drug store chain in Brazil. As you may or may not be aware Nurse practitioners are on staff at the clinics to see patients, not doctors.

Texas Health Resources is also working on a contract with CVS who has 800 retail clinics across the US compared to Walgreens who has 400, half the number and Walgreens is partnering with Baylor. CVS is also said to be working on additional affiliations in other parts of the US. BD

Navarro Discount Pharmacy, the drugstore chain that has operated in Miami-Dade for more than 50 years, will be acquired by retail giant CVS Caremark.

CVS, a New York Stock Exchange-trade company based in Woonsocket, Rhode Island, unveiled the definitive agreement to acquire Navarro after the stock markets closed Monday.

Navarro, the country’s largest Hispanic-owned drugstore chain, has annual sales of more than $340 million.

Once the deal closes, the 33 stores will continue to operate under the Navarro Discount Pharmacy name, a well-known brand in South Florida that draws a loyal customer following, especially among Hispanics.